Cisco Systems, Inc. (NASDAQ:CSCO) Short Interest Update

Cisco Systems, Inc. (NASDAQ:CSCO) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 37,953,900 shares, a decline of 11.9% from the July 31st total of 43,103,800 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 21,600,000 shares, the short-interest ratio is currently 1.8 days.

CSCO has been the subject of a number of research analyst reports. KeyCorp lowered their price target on Cisco Systems from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Raymond James reaffirmed an “overweight” rating on shares of Cisco Systems in a report on Friday, August 16th. William Blair cut Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 target price for the company. in a report on Wednesday, June 12th. Credit Suisse Group set a $50.00 target price on Cisco Systems and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $57.00 target price on shares of Cisco Systems in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and an average price target of $56.72.

Shares of CSCO stock traded down $0.04 on Thursday, hitting $49.99. The company had a trading volume of 2,050,001 shares, compared to its average volume of 20,932,555. The firm has a market cap of $206.24 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.26 and a beta of 1.26. The stock’s 50-day moving average is $50.44 and its two-hundred day moving average is $53.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. Cisco Systems has a twelve month low of $40.25 and a twelve month high of $58.26.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The company had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Equities research analysts predict that Cisco Systems will post 3.06 EPS for the current year.

In other news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the completion of the transaction, the chief financial officer now owns 277,548 shares of the company’s stock, valued at approximately $12,967,042.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of CSCO. Nuveen Asset Management LLC increased its stake in shares of Cisco Systems by 1,546.1% in the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after buying an additional 45,351,980 shares during the period. Thoroughbred Financial Services LLC boosted its position in shares of Cisco Systems by 5,677.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock valued at $361,628,000 after purchasing an additional 3,553,686 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Cisco Systems by 28.5% during the 4th quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock valued at $422,131,000 after purchasing an additional 2,472,300 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Cisco Systems during the 2nd quarter valued at about $125,277,000. Finally, Railway Pension Investments Ltd bought a new stake in shares of Cisco Systems during the 2nd quarter valued at about $10,371,000. 72.89% of the stock is owned by institutional investors.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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